Why International Investors Are Confused About Florida

By
Services for Real Estate Pros with TRINIDIGITAL

International Investors need to be sure that real estate prices in Florida have finally got to the bottom before investing. In the UK people who were thinking of retiring to the sunshine state have been sitting on their hands itching to buy when the time is right. So is 2010 the right time to buy?

From where I sit as international real estate observer it seems 2010 will be the right time to get value for money and not lose out on falling prices.

The Good News

Orlando house prices are at their lowest levels since 2001 with the average house price at $123000 (approx £75,650) according to reports from Florida based Orlando Sentinel. The pace of sales last month actually fell slightly from October, to 2,238 from 2,319, but the November total was up more than 100 percent from the same month a year ago, an indication of how much sales activity has been improving for more than a year now. .

The Bad News

The big worry is Florida bumped California in November to earn the No. 2 rank nationally for the rate of foreclosures, with one in every 165 homes in danger of becoming bank-owned, according to a report to be released today by Irvine, Calif.-based RealtyTrac. It bucked the national trend, which has seen four months of foreclosure decreases, including an 8 percent drop in November compared with October. Statewide, Florida foreclosures increased 2 percent in November over October, and about 8 percent compared.

So where what is an overseas buyer to think?

What is in store for 2010 in Florida housing market is Florida typical to other US states or is the market there unique?

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Florida Osceola County Kissimmee
Tags:
orlando
investment
house prices
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Rainer
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Anne-Marie Ezeard
10 Rooms Design - Barrie, ON

I agree, Nicholas, that the market in Florida seems unpredictable.  As someone who is looking to purchase a second property in Florida, I think this may be the year to buy.  I don't have any plans to sell in the near future, however, or I may be waiting a little longer.

Jan 08, 2010 04:34 AM #1
Anonymous
Nicholas Marr

I would be interested in what is available for overseas buyers say from the UK to get finance.i.e. what size of deposits are required . How would a typical couple who were seeking a retirement best fund a purchase.

Jan 08, 2010 08:26 AM #2
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Rainmaker
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Nick Marr

Promoting real estate internationally
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